Iran War: Trump Warns of Extended Hormuz Blockade: WSJ | Daybreak Europe 4/29/2026

Watch on YouTube ↗  |  April 29, 2026 at 09:17  |  43:55  |  Bloomberg Markets
Speakers
Bill Farren-Price — Editor-in-Chief, Australian Financial Review
Raja Akram — Head of Crypto, Luno
Håkan Samuelsson — Chairman, Credit Suisse

Summary

The episode covers the extended US naval blockade of the Strait of Hormuz and its impact on oil prices, the UAE's shock exit from OPEC, and earnings from UBS, Deutsche Bank, Santander, and Volvo Cars. Guests discuss the longevity of the Hormuz standoff, Deutsche Bank's resilience, Volvo's outlook, and the Fed decision ahead of major tech earnings.

  • President Trump prepares for an extended Strait of Hormuz blockade, keeping oil above $111.
  • UAE exit from OPEC is seen as having limited short-term market impact due to the ongoing supply disruption.
  • Deutsche Bank CFO expresses confidence in the bank's business mix and private credit portfolio.
  • Volvo CEO expects a stronger second half driven by new EV model and higher fuel prices.
  • UBS, Santander, and Deutsche Bank all beat Q1 earnings estimates.
  • Investors await Fed rate decision and tech earnings from Alphabet, Microsoft, Meta, and Amazon.
  • OpenAI faces competition from Anthropic, raising questions about the AI investment cycle.
  • Asian markets cautious ahead of Fed and tech earnings, with structural shifts in market cap rankings.
Trade Ideas
Bill Farren-Price Editor-in-Chief, Australian Financial Review 20:55
Hormuz standoff will last longer.
The standoff over the Strait of Hormuz will last longer than many people think, which will keep oil prices elevated due to ongoing supply disruption and Iranian resilience.
BNO WTI MED
Raja Akram Head of Crypto, Luno 27:39
Deutsche Bank can handle scenarios well.
Deutsche Bank has a good business mix, well-protected private credit exposure with no losses, and is well-positioned to handle all economic scenarios including a prolonged conflict, supported by a constructive start to April.
DB MED
Håkan Samuelsson Chairman, Credit Suisse 34:25
Second half will be better.
The second half of 2026 will be better for Volvo Cars due to the launch of the new fully electric EX90 SUV, a strong EV trend in Europe, and higher fuel prices that should boost demand for electric vehicles.
VOLVF MED
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This Bloomberg Markets video, published April 29, 2026, features Bill Farren-Price, Raja Akram, Håkan Samuelsson discussing BNO, WTI, DB, VOLVF. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Bill Farren-Price, Raja Akram, Håkan Samuelsson  · Tickers: BNO, WTI, DB, VOLVF